Bitcoin: Appsterdam Chicago’s alternative way to pay and play.

Teach for Appsterdam Chicago, get paid in Bitcoin.

Written by: Randy Ellis

I don’t think of Bitcoin as a future-proof currency that will stand the test of time and replace our existing monetary circulation. But lets look at Bitcoin as a FORWARD thinking currency. From the days of using tally sticks to record debts, the Chinese with rock coins and today’s fiat paper currency. 97% of today’s currency is circulated to and from banking institutions digitally without ever physically touch hands. My question: “What took us so long?”

Bitcoin’s popularity grew with the advent of Cyprus failing economy. An anonymous hacker creating the technology several years ago that doesn’t rely on a government/central bank and leaves the two parties to trade in confidence. Bitcoin hasn’t gone without its negative press though, with some virtual wallets (how you buy/sell Bitcoin) being hacked and money being stolen. Rough beginnings are a hard pill to swallow especially being the new kid on the block battling a 2500 year old process. But this same age-old process our society holds so dear creates hundreds of thousand of identity theft victims annually. We accept this and still use the same process. A disruption is demanded.

People fear what they don’t understand, I’m human, so I’m totally in the same boat when a new food experience in placed in front of me with an unfamiliar aroma or when you received a job offer but your gut churns and your inner voice asked you “Should you accept it?”

Bitcoin is just that. Fear of the new.

The problem with the articles and talking points poured into my inbox over the past several months regarding Bitcoin are all high-pitched trumpets of “fail first then, we’ll think about using a new digital currency when our government approves it” Our current monetary system exist because of our confidence faith NOT because our government says it’s money. WE THE PEOPLE say so. News Flash: We already use a digital currency, the difference – we refuse to provide Bitcoin the confidence to move forward and that’s fine. DISCLAIMER: I’m not a Bitcoin broker with millions of Bitcoin to shovel in and out of markets–so I’m omitting the up-sell. But I do have the decision to give this new method of paying for things a voice.

Wired.com article on Bitcoin for startup companies.

We’re not the only echoers – as of this month a venture capital firm: BoostVC has begun open enrollment of Bitcoin startup companies. With a war chest of $350,000 to hand out to promising Bitcoin businesses, I believe this is the first wave of offerings we will see coming from our VC friends regarding Bitcoin and its future. What better way to introduce a new currency system that with a new startup. Addtionally, WordPress.com the current provider for the entire Appsterdam organization gives users the option to pay for premium services using Bitpay as the gateway. Bitcoin may not be the 30 year solution but it’s not going anywhere soon.

Bitcoin optional payment source for wordpress.com premium services.

As for Appsterdam Chicago, our Bitcoin adventure is something different. Summer is right around the corner and we’re in the process of launching our series of Guru Session training courses. Announcing today, instructors and students who are accepted and apply for the program will have the option to get paid in Bitcoin or pay for their classes in Bitcoin. Our social hesitance for trying a new thing has to end somewhere. Why not begin with one of our everyday survival tools? Money. Is it risky? Yes. But so is the paper money and credit/debit cards you have in your wallet right now, just with a little more trust. Our mission continues as a software development organization to blur the technological lines at work and at play, doing so will keep us prepared well into the foreseeable future and for any other emerging currency.